Wearable Sensors Market
Wearable Sensors Market Forecasts to 2030 - Global Analysis By Sensor Type (Accelerometers, Gyroscopes, Image Sensors, Inertial Sensors, Magnetometers, Medical- Based Sensors, Motion Sensors, Pressure and Force Sensors, Temperature and Humidity Sensors, Touch Sensors and Other Sensor Types), Technology (Electrode, Microelectromechanical System, Nanoelectromechanical System and Other Technologies), Application, End User and By Geography
According to Stratistics MRC, the Global Wearable Sensors Market is accounted for $1.97 billion in 2024 and is expected to reach $6.93 billion by 2030 growing at a CAGR of 23.3% during the forecast period. Wearable sensors are electronic devices designed to be worn on the body, capable of monitoring various physiological parameters and environmental factors in real-time. These sensors can range from simple devices like fitness trackers that measure steps and heart rate to more complex systems capable of monitoring blood pressure, glucose levels, and even detecting environmental pollutants. The primary function of wearable sensors is to collect data about the wearer's health and surroundings continuously or on-demand. This data can provide valuable insights into personal health metrics, manage chronic conditions and even receive early warnings about potential health issues.
According to Cisco Systems, North America had the most 5G connections made using wearable devices in 2022.
Market Dynamics:
Driver:
Increasing prevalence of chronic diseases
The increasing prevalence of chronic diseases has significantly bolstered the wearable sensors market. These sensors offer continuous monitoring of physiological parameters such as heart rate, blood pressure, glucose levels, and physical activity, providing real-time data to both patients and healthcare providers. This continuous monitoring capability is particularly beneficial for managing chronic conditions like diabetes, cardiovascular diseases, and hypertension, where regular tracking of health metrics is crucial for effective management and early intervention. Wearable sensors not only empower individuals to take proactive measures towards their health but also enable healthcare professionals to make more informed decisions based on accurate, real-time data.
Restraint:
Privacy and security concerns
Privacy and security concerns are significant barriers to the growth of the wearable sensors market. These devices, which collect intimate personal data such as health metrics, location, and activity patterns, raise valid apprehensions among consumers regarding data protection. Issues such as unauthorized access to sensitive information, potential misuse of personal data by third parties, and breaches of confidentiality undermine trust in wearable technology. Without adequate measures to safeguard user privacy and ensure data security, the adoption and acceptance of wearable sensors will continue to face resistance from privacy-conscious consumers and regulatory bodies alike, impeding the market's potential for growth.
Opportunity:
Increasing awareness of health and fitness
Increasing awareness of personal well-being, coupled with advancements in sensor technology, has spurred the adoption of wearable devices that monitor various health metrics in real-time. These sensors are embedded in devices such as smartwatches, fitness bands, and clothing, allowing users to track parameters like heart rate, steps taken, sleep patterns, and more. The convenience and accessibility offered by wearable sensors appeal to a broad demographic, from fitness enthusiasts to individuals managing chronic conditions.
Threat:
Interoperability issues
Interoperability issues in the wearable sensors market refer to the challenges in ensuring seamless communication and compatibility among devices, platforms, and software from different manufacturers. These issues hinder the market by creating fragmentation and barriers that prevent devices from effectively exchanging and utilizing data. For instance, a wearable device might collect health data, but compatibility issues could prevent this data from being seamlessly integrated into a user’s healthcare app or electronic health record system. This lack of interoperability not only complicates user experience but also limits the potential for innovation and collaboration among developers and researchers.
Covid-19 Impact:
The Covid-19 pandemic significantly impacted the wearable sensors market. Initially, disruptions in manufacturing and supply chains caused delays in production and shipment of wearable devices. Consumer demand also fluctuated due to economic uncertainties and shifting priorities, leading to a temporary slowdown in sales. However, the pandemic also accelerated certain trends such as remote monitoring of health metrics, which boosted the adoption of wearable sensors among healthcare providers and individuals alike.
The Accelerometers segment is expected to be the largest during the forecast period
Accelerometers segment is expected to be the largest during the forecast period due to their ability to detect and measure acceleration, tilt, and vibration across various applications. In wearable devices, accelerometers enable functions like activity tracking, gesture recognition, and fall detection, enhancing user experience and safety. The demand for these sensors is driven by their integration into smartwatches, fitness trackers, and healthcare devices, where precise motion sensing is crucial for monitoring physical activity, sleep patterns, and even diagnosing certain medical conditions.
The Nanoelectromechanical System segment is expected to have the highest CAGR during the forecast period
Nanoelectromechanical System segment is expected to have the highest CAGR during the forecast period by offering unprecedented miniaturization and enhanced performance capabilities. NEMS devices integrate nanoscale mechanical elements with electronic functionality, enabling sensors to be smaller, more sensitive, and more energy-efficient than traditional counterparts. In wearable technology, this translates to sensors that can seamlessly integrate into clothing or accessories, providing real-time data on vital signs, movement, environmental factors, and more.
Region with largest share:
Europe region commanded the largest share of the market over the projection period. Connected devices ranging from smartwatches to fitness trackers, leverage advanced sensor technologies to monitor various health metrics, physical activities, and environmental conditions across the region. This regional trend is driven by the growing consumer demand for personalized health and fitness monitoring solutions, coupled with advancements in sensor accuracy and efficiency. Additionally, the integration of wearable sensors with smartphones and other smart devices has facilitated seamless data collection, analysis, and real-time feedback, enhancing user experience and engagement throughout the region.
Region with highest CAGR:
Europe region is estimated to witness substantial growth during the extrapolated period by ensuring stringent standards for product safety, data privacy, and interoperability. The European Union's regulatory framework, including the General Data Protection Regulation (GDPR) and directives like the Medical Devices Regulation (MDR), mandates high levels of consumer protection and data security across the region. These regulations compel manufacturers to adhere to rigorous testing and certification processes, fostering consumer trust and confidence in wearable sensor technologies.
Key players in the market
Some of the key players in Wearable Sensors market include Analog Devices Inc, Broadcom Limited, Freescale Semiconductor Inc, Infineon Technologies AG, Knowles Electronics, LLC, Murata Manufacturing Company Ltd, NXP Semiconductors N.V., Panasonic Corporation, Robert Bosch GmbH, Sensirion AG, STMicroelectronics N.V. and Texas Instruments Incorporated.
Key Developments:
In March 2023, 221e SRL and STMicroelectronics collaborated to combine 221e's sensing AI software with STMicroelectronics' microcontrollers and intelligent sensors to enhance AI solutions for wearable IoT devices and automotive industries based on 221e's sensing AI software and STMicroelectronics's microcontrollers and intelligent sensors.
In December 2022, Analog Devices Inc. collaborated with Oregon Health & Science University (OHSU) to develop a smartwatch that detects key mental health indicators to help address the rising mental health crisis in teens. As per the collaboration on the first and one-of-a-kind project, OHSU would leverage ADI's innovative technology and products for the burgeoning worldwide mental health crisis to save, improve, and enrich human lives.
In December 2022, Panasonic Industries introduced a new member of its famous Grid-Eye sensor family with a 90° lens that provides a broader field of vision (FoV) and reduces the number of sensors needed to cover a given area, enabling people to count and track applications. Grid-Eye 90° will improve systems built to track and count the movement of individuals as well as other applications.
In September 2022, Analog Devices Inc. and Brave Heart Wireless Inc. entered a strategic agreement to collaborate on a complete, end-to-end remote patient monitoring (RPM) system. The companies plan to incorporate BraveHeart's510(k) cleared Bravo1 remote patient monitoring (RPM) platform as a component of Analog Devices' vital sign monitoring infrastructure. This collaboration would allow healthcare partners unique access to a suite of healthcare sensing technologies built on the foundation of a robust medical-grade RPM platform.
Sensor Types Covered:
• Accelerometers
• Gyroscopes
• Image Sensors
• Inertial Sensors
• Magnetometers
• Medical- Based Sensors
• Motion Sensors
• Pressure and Force Sensors
• Temperature and Humidity Sensors
• Touch Sensors
• Other Sensor Types
Technologies Covered:
• Electrode
• Microelectromechanical System
• Nanoelectromechanical System
• Other Technologies
Applications Covered:
• Bodywear
• Eyewear
• Footwear
• Wristwear
• Other Applications
End Users Covered:
• Consumer Electronics
• Defense
• Healthcare
• Industrial
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Wearable Sensors Market, By Sensor Type
5.1 Introduction
5.2 Accelerometers
5.3 Gyroscopes
5.4 Image Sensors
5.5 Inertial Sensors
5.6 Magnetometers
5.7 Medical- Based Sensors
5.8 Motion Sensors
5.9 Pressure and Force Sensors
5.10 Temperature and Humidity Sensors
5.11 Touch Sensors
5.12 Other Sensor Types
6 Global Wearable Sensors Market, By Technology
6.1 Introduction
6.2 Electrode
6.3 Microelectromechanical System
6.4 Nanoelectromechanical System
6.5 Other Technologies
7 Global Wearable Sensors Market, By Application
7.1 Introduction
7.2 Bodywear
7.3 Eyewear
7.4 Footwear
7.5 Wristwear
7.6 Other Applications
8 Global Wearable Sensors Market, By End User
8.1 Introduction
8.2 Consumer Electronics
8.3 Defense
8.4 Healthcare
8.5 Industrial
8.6 Other End Users
9 Global Wearable Sensors Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Analog Devices Inc
11.2 Broadcom Limited
11.3 Freescale Semiconductor Inc
11.4 Infineon Technologies AG
11.5 Knowles Electronics, LLC
11.6 Murata Manufacturing Company Ltd
11.7 NXP Semiconductors N.V.
11.8 Panasonic Corporation
11.9 Robert Bosch GmbH
11.10 Sensirion AG
11.11 STMicroelectronics N.V.
11.12 Texas Instruments Incorporated
List of Tables
1 Global Wearable Sensors Market Outlook, By Region (2022-2030) ($MN)
2 Global Wearable Sensors Market Outlook, By Sensor Type (2022-2030) ($MN)
3 Global Wearable Sensors Market Outlook, By Accelerometers (2022-2030) ($MN)
4 Global Wearable Sensors Market Outlook, By Gyroscopes (2022-2030) ($MN)
5 Global Wearable Sensors Market Outlook, By Image Sensors (2022-2030) ($MN)
6 Global Wearable Sensors Market Outlook, By Inertial Sensors (2022-2030) ($MN)
7 Global Wearable Sensors Market Outlook, By Magnetometers (2022-2030) ($MN)
8 Global Wearable Sensors Market Outlook, By Medical- Based Sensors (2022-2030) ($MN)
9 Global Wearable Sensors Market Outlook, By Motion Sensors (2022-2030) ($MN)
10 Global Wearable Sensors Market Outlook, By Pressure and Force Sensors (2022-2030) ($MN)
11 Global Wearable Sensors Market Outlook, By Temperature and Humidity Sensors (2022-2030) ($MN)
12 Global Wearable Sensors Market Outlook, By Touch Sensors (2022-2030) ($MN)
13 Global Wearable Sensors Market Outlook, By Other Sensor Types (2022-2030) ($MN)
14 Global Wearable Sensors Market Outlook, By Technology (2022-2030) ($MN)
15 Global Wearable Sensors Market Outlook, By Electrode (2022-2030) ($MN)
16 Global Wearable Sensors Market Outlook, By Microelectromechanical System (2022-2030) ($MN)
17 Global Wearable Sensors Market Outlook, By Nanoelectromechanical System (2022-2030) ($MN)
18 Global Wearable Sensors Market Outlook, By Other Technologies (2022-2030) ($MN)
19 Global Wearable Sensors Market Outlook, By Application (2022-2030) ($MN)
20 Global Wearable Sensors Market Outlook, By Bodywear (2022-2030) ($MN)
21 Global Wearable Sensors Market Outlook, By Eyewear (2022-2030) ($MN)
22 Global Wearable Sensors Market Outlook, By Footwear (2022-2030) ($MN)
23 Global Wearable Sensors Market Outlook, By Wristwear (2022-2030) ($MN)
24 Global Wearable Sensors Market Outlook, By Other Applications (2022-2030) ($MN)
25 Global Wearable Sensors Market Outlook, By End User (2022-2030) ($MN)
26 Global Wearable Sensors Market Outlook, By Consumer Electronics (2022-2030) ($MN)
27 Global Wearable Sensors Market Outlook, By Defense (2022-2030) ($MN)
28 Global Wearable Sensors Market Outlook, By Healthcare (2022-2030) ($MN)
29 Global Wearable Sensors Market Outlook, By Industrial (2022-2030) ($MN)
30 Global Wearable Sensors Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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